Top 20 Investment Banking Companies in India 2023

Investment banking is a crucial component of the financial industry, providing a range of services to corporations, governments, and institutional clients. In India, the investment banking sector has been growing rapidly in recent years, as the country’s economy continues to expand and attract investment from both domestic and international sources.

In this context, it is important to identify and evaluate the top investment banking companies operating in India in 2023. These firms provide a range of services, including mergers and acquisitions, underwriting, equity and debt financing, and advisory services, among others.

The top 20 investment banking companies in India are known for their expertise, experience, and reputation in the industry. Some of these firms have been in operation for many decades, while others are relatively new entrants that have quickly gained market share through their innovative and customer-centric approach.

1. Goldman Sachs

Goldman Sachs is a leading global investment bank with a significant presence in India boosting its equity to new heights. The bank provides a range of financial services, including mergers and acquisitions, equity and debt financing, and restructuring advisory to both domestic and international clients. In India, Goldman Sachs has been involved in several high-profile deals, including the acquisition of Flipkart by Walmart and the initial public offering of Zomato.

In 2023, Goldman Sachs continues to be a leading investment banking company in India, leveraging its global network and expertise to provide clients with best-in-class financial advice and support. The bank has a strong presence in various industries, including technology, healthcare, and financial services, and has a track record of successfully executing complex and innovative transactions. Goldman Sachs is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

2. J.P. Morgan

J.P. Morgan is a leading global investment bank with a significant presence in India. The bank offers a range of financial services, including mergers and acquisitions, equity and debt financing, and risk management to clients engaged in various industries, including technology, healthcare, and energy.

J.P. Morgan has been involved in several high-profile deals in India, including the initial public offering of Indian Railway Finance Corporation.

In 2023, J.P. Morgan continues to be a leading investment banking company in India, leveraging its global expertise and local knowledge to provide clients with comprehensive financial solutions.

The bank’s focus on innovation and technology has been instrumental in helping clients streamline their financial operations, while its commitment to sustainable finance has led to the development of ESG financing solutions.

3. Morgan Stanley

Morgan Stanley is a global investment bank with a significant presence in India. The bank provides a range of financial services, including mergers and acquisitions, equity and debt financing, and restructuring advisory to clients engaged in various industries, including technology, healthcare, and consumer goods.

Morgan Stanley has been involved in several high-profile deals in India, including the initial public offering of LIC Housing Finance.

In 2023, Morgan Stanley continues to be a leading investment banking company in India, leveraging its global expertise and local knowledge to provide clients with customized financial solutions.

The bank’s focus on innovation and technology has been instrumental in helping clients navigate the complex financial environment, while its commitment to sustainable finance has led to the development of ESG financing solutions.

4. Citigroup

Citigroup is a leading global investment bank with a significant presence in India. The bank provides a range of financial services, including mergers and acquisitions, equity and debt financing, and risk management to clients engaged in various industries, including technology, healthcare, and energy.

Citigroup has been involved in several high-profile deals in India, including the initial public offering of SBI Cards and Payment Services.

In 2023, Citigroup continues to be a leading investment banking company in India, leveraging its global network and expertise to provide clients with comprehensive financial solutions.

The bank’s focus on innovation and technology has been instrumental in helping clients streamline their financial operations, while its commitment to sustainable finance has led to the development of ESG financing solutions.

5. Deutsche Bank

Deutsche Bank is a leading global investment bank with a significant presence in India. The bank provides a range of financial services, including mergers and acquisitions, equity and debt financing, and risk management to clients engaged in various industries, including technology, healthcare, and energy.

Deutsche Bank has been involved in several high-profile deals in India, including the initial public offering of UTI Asset Management.

In 2023, Deutsche Bank continues to be a leading investment banking company in India, leveraging its global expertise and local knowledge to provide clients with customized financial solutions. The bank’s focus on innovation and technology has been instrumental in helping various institutions.

6. Credit Suisse

Credit Suisse is a leading global investment bank with a significant presence in India. The bank provides a range of financial services, including mergers and acquisitions, equity and debt financing, and risk management to clients engaged in various industries, including technology, healthcare, and consumer goods.

Credit Suisse has been involved in several high-profile deals in India, including the initial public offering of Zomato.

In 2023, Credit Suisse continues to be a leading investment banking company in India, leveraging its global expertise and local knowledge to provide clients with customized financial solutions.

The bank’s focus on innovation and technology has been instrumental in helping clients navigate the complex financial environment, while its commitment to sustainable finance has led to the development of ESG financing solutions.

7. HSBC

HSBC is a leading global investment bank with a significant presence in India. The bank provides a range of financial services, including mergers and acquisitions, equity and debt financing, and risk management to clients engaged in various industries, including technology, healthcare, and financial services. HSBC has been involved in several high-profile deals in India, including the acquisition of Flipkart by Walmart.

In 2023, HSBC continues to be a leading investment banking company in India, leveraging its global network and expertise to provide clients with best-in-class financial advice and support.

The bank has a strong presence in various industries and has a track record of successfully executing complex and innovative transactions. HSBC is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

8. Nomura

Nomura is a leading global investment bank with a significant presence in India. The bank provides a range of financial services, including mergers and acquisitions, equity and debt financing, and risk management to clients engaged in various industries, including technology, healthcare, and energy. Nomura has been involved in several high-profile deals in India, including the initial public offering of LIC Housing Finance.

In 2023, Nomura continues to be a leading investment banking company in India, leveraging its global expertise and local knowledge to provide clients with customized financial solutions.

The bank’s focus on innovation and technology has been instrumental in helping clients navigate the complex financial environment, while its commitment to sustainable finance has led to the development of ESG financing solutions.

9. Edelweiss

Edelweiss is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, equity and debt financing, and restructuring advisory to both domestic and international clients. In India, Edelweiss has been involved in several high-profile deals, including the initial public offering of Indian Railway Finance Corporation.

In 2023, Edelweiss continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions.

The bank’s focus on innovation and technology has been instrumental in helping clients streamline their financial operations, while its commitment to sustainable finance has led to the development of ESG financing solutions.

Edelweiss has a strong presence in various industries, including infrastructure, financial services, and consumer goods, and has a track record of successfully executing complex and innovative transactions.

10. JM Financial

JM Financial is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, equity and debt financing, and wealth management to both domestic and international clients. The bank has been involved in several high-profile deals in India, including the sale of HDFC ERGO to HDFC and the acquisition of Essar Steel by ArcelorMittal.

In 2023, JM Financial continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions.

The bank has a strong presence in various industries, including healthcare, consumer goods, and financial services, and has a track record of successfully executing complex and innovative transactions. JM Financial is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

11. Axis Capital

Axis Capital is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, equity and debt financing, and advisory services to both domestic and international clients.

The bank has been involved in several high-profile deals in India, including the initial public offering of Indian Renewable Energy Development Agency and the acquisition of Vedanta Resources by Vedanta Limited.

In 2023, Axis Capital continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions.

The bank has a strong presence in various industries, including infrastructure, energy, and consumer goods, and has a track record of successfully executing complex and innovative transactions. Axis Capital is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

12. Kotak Investment Banking

Kotak Investment Banking is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, equity and debt financing, and advisory services to both domestic and international clients. The bank has been involved in several high-profile deals in India, including the acquisition of Bharti AXA by ICICI Lombard and the initial public offering of Burger King India.

In 2023, Kotak Investment Banking continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions.

The bank has a strong presence in various industries, including healthcare, consumer goods, and financial services, and has a track record of successfully executing complex and innovative transactions. Kotak Investment Banking is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

13. Equirus Capital

Equirus Capital is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, equity and debt financing, and advisory services to both domestic and international clients. The bank has been involved in several high-profile deals in India, including the acquisition of Spectra by Brookfield and the initial public offering of Mrs. Bectors Food Specialties.

In 2023, Equirus Capital continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions. The bank has a strong presence in various industries, including healthcare, consumer goods, and financial services, and has a track record of successfully executing complex and innovative transactions. Equirus Capital is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

14. Avendus Capital

Avendus Capital is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, private equity, and advisory services to both domestic and international clients. The bank has been involved in several high-profile deals in India, including the acquisition of Citi’s retail mortgage business in India by Kotak Mahindra Bank and the sale of Gland Pharma to Fosun Pharma.

In 2023, Avendus Capital continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions.

The bank has a strong presence in various industries, including technology, healthcare, and consumer goods, and has a track record of successfully executing complex and innovative transactions. Avendus Capital is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

15. Motilal Oswal Investment Banking

Motilal Oswal Investment Banking is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, equity and debt financing, and advisory services to both domestic and international clients. The bank has been involved in several high-profile deals in India, including the acquisition of Future Group’s retail assets by Reliance Retail and the initial public offering of IRCTC.

In 2023, Motilal Oswal Investment Banking continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions. The bank has a strong presence in various industries, including healthcare, technology, and financial services, and has a track record of successfully executing complex and innovative transactions. Motilal Oswal Investment Banking is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

16. SBI Capital Markets

SBI Capital Markets is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, equity and debt financing, and advisory services to both domestic and international clients. The bank has been involved in several high-profile deals in India, including the sale of Reliance Jio’s telecom tower assets to Brookfield Asset Management and the acquisition of Jet Airways by a consortium of investors.

In 2023, SBI Capital Markets continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions.

The bank has a strong presence in various industries, including infrastructure, energy, and real estate, and has a track record of successfully executing complex and innovative transactions. SBI Capital Markets is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

17. BNP Paribas

BNP Paribas is a leading French investment bank with a strong presence in India, providing a range of financial services, including capital markets, corporate banking, and wealth management, to both domestic and international clients. The bank has been involved in several high-profile deals in India, including the initial public offering of Burger King India and the acquisition of shares in UTI Asset Management by T. Rowe Price.

In 2023, BNP Paribas continues to be a leading investment banking company in India, leveraging its global expertise and local knowledge to provide clients with comprehensive financial solutions. The bank has a strong presence in various industries, including energy, infrastructure, and real estate, and has a track record of successfully executing complex and innovative transactions. BNP Paribas is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

18. Ambit Corporate Finance

Ambit Corporate Finance is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, private equity, and advisory services to both domestic and international clients. The bank has been involved in several high-profile deals in India, including the acquisition of Vishal Mega Mart by TPG and the sale of stake in IndusInd Bank by the Hinduja Group.

In 2023, Ambit Corporate Finance continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions.

The bank has a strong presence in various industries, including healthcare, technology, and consumer goods, and has a track record of successfully executing complex and innovative transactions. Ambit Corporate Finance is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

19. Arpwood Capital

Arpwood Capital is a leading Indian investment bank with a focus on providing a range of financial services, including mergers and acquisitions, private equity, and advisory services to both domestic and international clients. The bank has been involved in several high-profile deals in India, including the acquisition of Avendus Capital by the Japanese financial services firm Orix and the acquisition of SRL Diagnostics by the private equity firm True North.

In 2023, Arpwood Capital continues to be a leading investment banking company in India, leveraging its expertise and local knowledge to provide clients with comprehensive financial solutions.

The bank has a strong presence in various industries, including healthcare, financial services, and consumer goods, and has a track record of successfully executing complex and innovative transactions. Arpwood Capital is also committed to sustainable finance, offering expertise in environmental, social, and governance (ESG) financing.

20. Centrum Capital:

Centrum Capital Limited is a Mumbai-based diversified financial services company offering services in investment banking, institutional equities, wealth management, and other allied financial services. Established in 1997, Centrum Capital has since grown to become a leading player in the Indian financial services industry.

The company offers a wide range of investment banking services, including M&A, private equity, structured finance, debt syndication, and project finance.

Centrum Capital has worked on some of the largest M&A and PE deals in India, and has a reputation for providing innovative solutions to its clients. The company has a strong team of experienced professionals with expertise across various sectors and a deep understanding of the Indian market.